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Optimal Price and Inventory Adjustment in an Open-Economy Model of the Business Cycle

Flood, Robert P. - 1983

This paper develops an open-economy macroeconomic model which can be used to interpret the observed fluctuations in output, inventories,prices,and exchange rates in the medium-sized economies of the world. The model is consistent with the major empirical regularities that have been discovered in...

Persistent link: https://www.econbiz.de/10012478013

Disequilibrium Dynamics with Inventories and Anticipatory Price-Setting : Some Impirical Results

Green, Jerry R. - 1980

anticipatory pricing, against the market-clearing assumptions …

Persistent link: https://www.econbiz.de/10012478692

Empirical Models of Demand and Supply in Differentiated Products Industries

Gandhi, Amit; Nevo, Aviv - National Bureau of Economic Research - 2021

the supply-side, we show how demand estimates combined with a pricing model, can be used to recover markups and marginal … costs. We also show how the model of pricing can be tested. We discuss a baseline Bertrand-Nash model of competitive pricing …, and expand it to cover a) coordinated pricing, b) wholesale relationships, and c) bargaining. We end the chapter with …

Persistent link: https://www.econbiz.de/10012629477

Barbarians at the Store? Private Equity, Products, and Consumers

Fracassi, Cesare - 2020

We investigate the effects of private equity on product markets using price and sales data for an extensive number of consumer products. Following a buyout, target firms increase sales 50% more than matched control firms. Price increases--roughly 1% on existing products--do not drive this...

Persistent link: https://www.econbiz.de/10012481630

Altruistic Dynamic Pricing with Customer Regret

Rotemberg, Julio J. - 2009

A model is considered where firms internalize the regret costs that consumers experience when they see an unexpected price change. Regret costs are assumed to be increasing in the size of price changes and this can explain why the size of price increases is less sensitive to inflation than in...

Persistent link: https://www.econbiz.de/10012463715

Behavioral Aspects of Price Setting, and Their Policy Implications

Rotemberg, Julio J. - 2008

This paper starts by discussing consumers' cognitive and emotional reaction to posted prices. Cognitively, some consumers do not appear to make effective use of price information to maximize their consumption-based utility. Emotionally, prices can induce regret and anger among consumers. The...

Persistent link: https://www.econbiz.de/10012464893

Shrouded Attributes, Consumer Myopia, and Information Suppression in Competitive Markets

Gabaix, Xavier - 2005

Bayesian consumers infer that hidden add-on prices (e.g. the cost of ink for a printer) are likely to be high prices. If consumers are Bayesian, firms will not shroud information in equilibrium. However, shrouding may occur in an economy with some myopic (or unaware) consumers. Such shrouding...

Persistent link: https://www.econbiz.de/10012466916

Fair Pricing

Rotemberg, Julio J. - 2004

I suppose that consumers see a firm as fair if they cannot reject the hypothesis that the firm is somewhat benevolent towards them. Consumers that can reject this hypothesis become angry, which is costly to the firm. I show that firms that wish to avoid this anger will keep their prices rigid...

Persistent link: https://www.econbiz.de/10012467772

Consumer Information and Price Discrimination : Does the Internet Affect the Pricing of New Cars to Women and Minorities?

Morton, Fiona Scott - 2001

Mediating transactions through the Internet removes important cues that salespeople can use to assess a consumer's willingness to pay. We analyze whether dealers' difficulty in identifying consumer characteristics on the Internet and consumers' ease in finding information affects equilibrium...

Persistent link: https://www.econbiz.de/10012470047

Fear of Flying? Economic Analysis of Airline Safety

Rose, Nancy L. - 1991

The safety of the commercial airline industry has attracted considerable public attention and debate since economic deregulation of the industry in 1978. These concerns have energized economic research on three aspects of airline safety. First, has the level of airline safety declined since...

Persistent link: https://www.econbiz.de/10012475216

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